Bank of Canada Raises Key Lending Rate Again
The Bank of Canada was widely expected to hike its benchmark interest rate for the third time in a year this morning and they did. They increased the rate by another .25%
After staying on the sidelines for the better part of a decade following the financial crisis, Canada's central bank raised its key interest rate twice last year, to one per cent. The bank's rate is important because it filters down to affect the rates that Canadians get from banks and other lenders for things like mortgages, GICs and savings accounts.
After a slew of data suggesting Canada's economy is growing solidly, and the job market is positively booming, experts say the central bank is likely to raise its key lending rate by 25 points to 1.25 per cent — a level not seen since 2009.
310-328 West Hastings Street
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.